Bankrate’s editorial team researches, reviews and rates lenders to help you find one that fits your needs. Our experts consider a range of factors, including rates, loan types, time to close, fees and more. Reviews are updated regularly. Bankrate is an independent, advertising-supported comparison service. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy.
State License: MC-436
These user reviews are individual, subjective opinions of reviewers, and not those of Bankrate. We do not endorse the accuracy or relevancy of the information and opinions expressed by any reviewers or any responses to user reviews.
Please note: In response to the coronavirus pandemic, lenders are changing their requirements continuously. Although we strive for accuracy at the time of publication, please be sure to check with the lender for updated details on down payments, credit scores, etc.
Goodmortgage is a full-service online lender offering mortgage options to borrowers of all types, including those with prior credit issues and little money for a down payment.
Founded more than 20 years ago, Goodmortgage is the retail lending arm of First Guaranty Mortgage Corporation (FGMC). FGMC is a full-service wholesale and correspondent lender headquartered in Plano, Texas. It purchased Goodmortgage in May 2016.
Available in all U.S. states except Hawaii and New York
Minimum credit score
620 for conventional loans; 530 for FHA loans; 530 for VA loans; 530 for USDA loans; 620 for second liens; 500 for non-qualified mortgage (non-QM) loans.
Conventional, FHA, VA, USDA, fixed-rate, adjustable-rate (ARM); refinancing options include rate-and-term refinancing and cash-out refinancing; also offers non-qualified mortgage (non-QM) loans and home equity loans
Programs for borrowers with slim credit
Low-down payment loan programs
Offers non-qualified mortgage loans
Fast loan closing times
Free rate quote online
Doesn't offer immediate online approval; you have to speak to a loan officer
Doesn’t publish lender fees on its website
No brick-and-mortar locations
Find your mortgage match
Get paired with your best mortgage offers in 2 minutes or less.
Refinancing including rate-and-term refinancing and cash-out refinancing
Non-qualified mortgage (non-QM) loans
Home equity loans
Goodmortgage doesn’t publish lender fees on its website. However, keep in mind that most lenders charge at least an origination and application fee.
If you’re looking to keep lender fees low, Goodmortgage offers a number of programs that can lower your obligation at closing. FHA, USDA and VA loans may allow you to wrap closing costs into your overall monthly payment, and sometimes they provide the option for the seller to contribute to costs at closing.
Minimum borrower requirements
Goodmortgage generally follows Fannie Mae’s underwriting guidelines for conventional mortgages. Borrowers need a credit score of 620 or better, a down payment of at least 5 percent and a DTI of at least 43 percent.
For HomeReady and HomePossible mortgages, borrowers can put down as little as 3 percent.
FHA programs through this lender require a 530 credit score or better and a down payment of at least 3.5 percent. It doesn’t publish DTI requirements, but you’ll generally need a DTI of 50 percent or lower.
Goodmortgage also offers non-qualified mortgage products that allow for a credit score as low as 500.
goodmortgage.com has been providing thousands of homeowners and homebuyers competitive mortgages for over 17 years now.
Offer FHA, VA, Conventional and jumbo programs.
Licensed in 27 states and Washington, D.C.
Fast and simple online application platform.
Customer Service Rating
Level of service
0 out of 0 rates honored
The reviews posted on Bankrate.com ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews.
Showing 2 of 2 Reviews
My ex husband and I had a house together. He did his best to keep all the equity to himself after our separation
, until the judge ordered for the house to be sold and us split the equity. My ex husband got so bitter that he let the house go to foreclosure. I wasn't able to save it from foreclosure..., because I wasn't on the title or mortgage (I was an exchange student when we bought the house - the reason I didn't have a credit score yet and didn't get put on any paperwork). Anyways, long story short...WY law allows the borrower to redeem the house in 90 days after the auction. So, when I saw that opportunity I contacted goodmortgage to see if they are able to help me finance that house. I went through the application process, turned in all the paperwork on time, spent a little over 3000$ on an ?appraiser, ?turn the utilities back on (since it's an HOA, I could not just get a new zero balance account....and the renters my ex husband had there left mountains of bills behind), ?take the trash out of the house and yard left behind (this is what the lender told me that I had to do, before the appraiser goes in there) and ? home inspector. Being a single mom with 2 kids with no other income but just my paycheck...3000$ is a lot!!! Anyway, the deadline is on January 9th....and today December 24th, I got an email (NOT even a phone call) saying that because the Divorce Decree made me responsible to sell the house and I didn't do so, they can't approve me for the loan! I sent them numerous screenshots of the conversations with my divorce attorney showing how hard we tried to get a Power of Attorney from my ex husband in order to be able to sell the house before the foreclosure, The Motion to Show Cause etc, the conversation with realtors that didn't want to list it without a PA...and NOTHING of that counted!!! I get their point...BUT the thing is, GOODMORTGAGE had that paperwork turned in a long time ago (actually, several times I had to resend the same paperwork, because they said "got misplaced)!!! They could of noticed from the start that detail, way before my deadline was so close and way before they made me spent all this money!!! Now, is Christmas Eve and gotta tell my kids that I am not able to get our home back is just heartbreaking!!! I hate how their unprofessionalism reflected on my family!!!??????
P.S. Our current house is financed with Goodmortgage and represented through Rushmore Loan Management....had to dispute extra charges on the monthly payment a few times already and the loan is less that 2 years old! (Considering selling current home or refinancing with a different lender).
Level of service
Closed on time:
I have financed with Good Mortgage on three different occasions. The first two were excellent. The last one has been one head ache after another. The loan officer and underwriting department are not on the same page. I was given three different closing dates. Had to have 2 appraisals (they pai...d for the second). Funds were supposed to be wire transferred by this morning. Still no money. Every question is followed up with "I'll check and get back with you".
goodmortgage replied to this:
"We are sorry to hear you were not satisfied with our customer service during the closing process. First Guaranty Mortgage Corporation dba Goodmortgage is committed to providing excellent customer service to all customers and would like to review your concerns with you directly. Please send your name, phone number, email, and best time to contact you to email@example.com and our Customer Care and Resolution team will reach out to you. Thank you – Liz Frey, Customer Care and Resolution Manager, 240-415-9099"